Common Mistakes Gas Station Owners Make When Shopping for Insurance
- Jan 12
- 2 min read
Buying insurance for your gas station can be complicated. Many owners make costly mistakes that lead to gaps in coverage, higher premiums, or delayed claims.
This guide highlights the most common errors gas station owners make when shopping for insurance and shows how working with Wexford Insurance can help you avoid them while getting the right coverage.
1. Underestimating Coverage Needs
Many gas station owners assume that basic liability insurance is enough. In reality, fuel storage, environmental hazards, and employee risks require multiple policies, including:
Pollution / Environmental Liability
Commercial Property Insurance
Workers’ Compensation
Business Interruption Insurance
Underestimating coverage can leave you exposed to fines, lawsuits, or costly cleanup fees. For environmental safety requirements, check the EPA guidelines for fuel storage and spill prevention here.
2. Focusing Only on Price
Choosing the cheapest policy without comparing coverage details is a common mistake. Lower premiums may mean:
Higher deductibles
Excluded claims
Insufficient liability or property limits
It’s better to compare quotes for value and coverage, not just cost. Specialized brokers like Wexford Insurance help you find competitive pricing without sacrificing essential coverage.
3. Ignoring Lender or Lease Requirements
If your gas station is financed or leased, lenders often require:
Minimum liability limits
Pollution liability coverage
Proof of compliance with local and state regulations
Ignoring these requirements can jeopardize loans or leases and delay approvals.
4. Not Preparing Proper Documentation
Incomplete or inaccurate information slows down the quoting process and can lead to misquoted premiums. Make sure to have:
Claims history
Fuel sales volume
Number of pumps and tanks
Safety systems in place (fire suppression, cameras, spill containment)
5. Skipping Risk Management Opportunities
Insurance providers often reward proactive risk management. Mistakes include:
Failing to install safety equipment
Skipping employee training programs
Not updating safety policies regularly
Implementing these measures can reduce premiums while improving safety.
How Wexford Insurance Can Help
Wexford Insurance specializes in commercial insurance for gas stations and high-risk businesses. They help owners:
Avoid common mistakes when buying coverage
Compare policies from multiple carriers
Customize coverage to meet legal, environmental, and lender requirements
Save money without sacrificing protection
👉 Request a gas station insurance quote from Wexford Insurance today and get expert guidance to protect your business.
